Historically,nominal GDP Has Increased Faster Than Real GDP Because

question 64

Multiple Choice

Historically,nominal GDP has increased faster than real GDP because

• A)the general price level has fallen.
• B)improvements in product quality have not been reflected in prices.
• C)exports have risen more rapidly than imports.
• D)imports have risen more rapidly than exports.
• E)the general price level has increased.

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Definitions:

Colonists

Individuals or groups who settle in a new area or country, often establishing control or cultivating it for the first time.

Extinct

Refers to a species that no longer has living members.

Larger Islands

Islands of a relatively greater size, which can support more diverse ecosystems and larger populations than smaller islands.

Species

A group of living organisms consisting of similar individuals capable of exchanging genes or interbreeding.